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“# DeFi and DEX volumes soar amid China’s crypto ban and ongoing US regulation ” Last week China’s heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back…
“# CoinEx crypto exchange to remove all mainland China users in October ” CoinEx cryptocurrency exchange is winding down operations in mainland China to comply with local anti-crypto regulations. The company officially announced on Thursday that it was going to completely retire user accounts verified as mainland China citizens as well as those linked to a…
“# China’s crypto holdouts: Bitcoin nodes and OTC desks struggle on ” Despite Beijing’s ever-increasing crackdown on the crypto industry, there are still some signs of life in the People’s Republic regarding the Bitcoin network and OTC trading. China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related…
“# DYDX gains 80% in a week — What’s driving the DEX token rally? ” Decentralized exchange dYdX’s native token DYDX surged by nearly 80% this week as traders assessed its potential against China’s recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at…
“# Crypto is impossible to destroy, says Tesla CEO Elon Musk ” As global regulators continue to scrutinize the cryptocurrency industry, Tesla CEO Elon Musk has expressed support for crypto, calling it undestroyable. “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said…
“# Another Ethereum mining pool forced to close due to China crackdown ” BeePool, the fourth largest Ethereum mining pool, is closing amid China’s crypto crackdown. The China-based Ethereum mining pool announced on Tuesday it will suspend operations “in response to the latest regulatory policies.” Effective immediately, the registration of new users and the addition…
“# Signs of fear emerge as Ethereum price drops below $3,000 again ” Technical analysis is a controversial topic, but higher lows are commonly interpreted as a sign of strength. Today, Ether (ETH) might be 30% below its May 12 high at $4,380, but the current $3,050 price is 78% higher than the 6-month low…
“# Alibaba to ban crypto miner sales amid Chinese crackdown ” Chinese e-commerce giant Alibaba is the next company to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China. Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from…
“# Institutional investors bought the dip as China FUD broke ” Institutional investors were buying the dip on the back of China’s latest FUD, with digital asset investment products generating $95 million worth of inflows last week. According to CoinShares’ Sept. 27 Digital Asset Fund Flows Weekly report, a surge in dip buying helped drive…
“# Law Decoded: China FUD and false dichotomies, Sept. 20–27 ” In the wake of yet another iteration of China’s enduring crackdown on cryptocurrency, a particularly influential narrative on Crypto Twitter suggests that by banning Bitcoin (BTC), China has definitively put itself on the dark side of the struggle, while the collective West must now…